On Thursday, H&M has reported a bigger than expected second-quarter profit as many of the company’s stores reopened. Still, earnings remained well below pre-pandemic levels, and the group’s shares fell sharply.

The Swedish company, along with other big clothing chains, is trying to bounce back from the pandemic, where restrictions and lockdowns earlier this year hit the industry’s sales.

“As more and more people are vaccinated, and restrictions are eased, the world is gradually opening up, and customers can once again visit our stores,” Chief Executive Helena Helmersson said in a statement. “Online sales have continued to develop very well even as the stores have opened,” she said.

H&M said 95 of its 5,000 stores remained temporarily closed due to restrictions currently, against around 1,300 at the start of March. The world’s second-biggest fashion retailer swung to a pretax profit of 3.59 billion crowns ($419 million) in the second quarter from a year-earlier loss of 6.48 billion.